The People’s Committee of HCMC has assigned District 9 to set up a land withdrawal plan which will be submit to the Prime Minister for approval to develop a science and technology park project.

Saigon Hi-Tech Park in District 9, HCMC

Specifically, city leaders require the People’s Committee of District 9 to draw up the plan and estimate compensation, site clearance and resettlement costs. The district should pay compensation in January next year and complete land withdrawal and allocation to investors in the first quarter of the same year.

In addition, the city People’s Committee has tasked Saigon Hi-Tech Park Management Board to establish a 1:2000 scale plan for the science and technology park project and submit it to the committee before November 1, 2017.

The science and technology park will be built at Long Phuoc commune, District 9 in the middle of Saigon Hi-Tech Park and HCMC National University covering over the total area of 200 hectares.

Total investment capital is estimated to be VND4,263 billion (US$188 million) comprising site clearance cost.

After being built, the park will study and apply advanced technologies in production to boost economic growth, create good quality and competitive products, incubate businesses and train hi-tech human resource for the city.